Following former President Joe Biden’s decision to implement tariffs on certain imported Chinese goods last fall – including EVs and various raw materials – newly elected President Donald Trump has followed by enacting an additional 10 percent tariff on select items from that country as well, all while proposing additional levies on other countries. That list includes 25 percent tariffs on Mexico and Canada, but those sides wound up reaching deals that delayed their implementation for at least 30 days recently. Now, Trump plans to implement additional tariffs that could very likely impact Ford’s business, too.
According to the Associated Press, Trump announced that he plans to impose 25 percent tariffs on imported steel and aluminum, which are set to take effect later this week. “Any steel coming into the United States is going to have a 25 percent tariff,” Trump told reporters on Sunday. He added “aluminum, too” when asked specifically about that material, and also noted that he plans to impose “reciprocal tariffs probably Tuesday or Wednesday,” too. “If they are charging us 130 percent and we’re charging them nothing, it’s not going to stay that way,” Trump stated.
It’s unclear to what extent these new tariffs might impact Ford financially speaking, but we do know that it’s currently dealing with the aforementioned tariff on Chinese goods due to the fact that it builds the Lincoln Nautilus there and sells the luxurious crossover in the American market. Together with the Buick Envision, the Nautilus accounts for 95 percent of the 88,515 vehicles made in China that were subsequently sold in the U.S. last year.
Regardless, Ford CEO Jim Farley previously stated that he isn’t too concerned with these policy shakeups, which are something that the automaker has been dealing with for a century to this point under many administrations. “After 120 years, we’re pretty experienced with policy change,” Farley said. “I think Ford is very well-positioned,” adding that he “isn’t panicked” about anything that Trump may have in store.
Comments
Ford will survive whatever Trump does, since it is over 110 years old , survived two World Wars, a Great Depression, and over twelve Presidents. And Ford will be here after Trump is dead and buried.
From what I’ve read, steel is less of an issue than aluminum is as we import a large quantity of aluminum from both Canada and Mexico. Steel imports have been dropping steadily for sometime now. The entire F-150 and the front clip of the Mustang are all aluminum. It’s also used in suspension and engines as well.
Farley Ain’t worried because he Makes MILLION’S Upon MILLION’S, and will have the Famous GOLDEN NEST EGG When he is Done with FORD. As far as this Steel and Al U Minium goes??? Well, If we would have Paid closer attention back in the 1950’/60’s, we would have Told ALL of these Manufactures that If you wanna PLAY in the USA…. You’re Gonna have to P A Y!! We made this BED Long ago, and now we are being Forced to Sleep in it!!! And it SUCKS!. FORD, GM, And CHRYSLER have all but made this Bed for themselves, and the Consumer is PAYING Through the NOSE!!!!
Don’t worry boomer. The big three all have an expiry date. They can’t compete in the global market. Eventually every vehicle will be Chinese based. In 4 more years the Chinese will be decades more advanced.
Nobody can compete with China’s slave labor.
Build the Fords in America ! ” Make America Great Again ” ! Stop building them in Mexico, Canada, China, Everywhere Else ! Henry Ford would turn over in his Grave if he saw what is happening to Ford , today !
Hey Ford Owner , what happened to Pierce Arrow, Duesenberg, AMC, Packard, Chrysler Imperial, Hudson, Nash, ! Ford should stay Away from electric autos, and Mary Barra is killing General Motors ! Look what happened to Ford, GM, and Chrysler in 2008 !